The owners of the Whyalla Steelworks in South Australia have announced that they will be cutting cost in the aim to save $100 million as they try and improve the viability of the steelworks.
The cuts will affect areas such as, souring and procurement, labour and overheads, site rationalisations, corporate cost and production conversion costs.
Arrium, the owner of the Whyalla Steelworks in South Australia, has announced it has started a two year of cost cutting aiming to save $100 million to improve the viability of steelworks.
Overcapacity of steel meant it needed to improve its cost base to maintain the competitiveness of the Whyalla Steelworks.
Arrium is yet to comment on the number of jobs that will be lost as a result of the cost cutting, saying that they will consult employees, unions, suppliers and the Government.